Technology

CIC Ups Medical Robotics Stake

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Technology and healthcare investor Cambridge Innovation Capital (CIC) has increased its holding in a developer of next-generation robotics used for surgery as part of a $26m (£19.1m) funding round.

Cambridge Medical Robotics (CMR) has created a system for minimal access procedures. It mimics the dexterity of a human wrist and can hold surgical tools in the same way as a surgeon.

CIC was part of a $26m series A funding round alongside other existing investors LGT Global Invest, Escala Capital and ABB Technology Ventures AND new investor Watrium.

Following the first close in July 2017, the business has raised $46m.

Dr Robert Tansley, investment director at CIC, said: “Cambridge Medical Robotics has made great progress since our initial investment just over a year ago.

 

 

“It is leveraging the core skills of the Cambridge cluster in medical technology and engineering to create a next-generation leader in the expanding field of surgical robotics.

CMR will use the cash to further develop its Versius system to perform upper gastrointestinal, gynaecological, colorectal and renal surgery.

Martin Frost, chief executive of CMR, added: “Versius continues to demonstrate its leading position in this next generation of robotic surgery systems.

“I’m pleased to report this significant progress and thank our existing and new investors for their enthusiastic support and look forward to continuing our rapid development as we lay the foundations for producing and marketing this in-demand system.”

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